Loan & DebtJul 24, 2026, 04:37 PM
CPS Completes Record $716.88M Asset-Backed Securitization
AI Summary
Consumer Portfolio Services, Inc. (CPS) announced the closing of its third term securitization in 2026, which is the largest in the company's history. The transaction involved securitizing approximately $734.51 million of subprime automotive receivables and issuing $716.88 million of asset-backed notes in five classes. The senior class of notes received a triple "A" rating from at least two rating agencies, with a weighted average coupon of approximately 5.90%.
Key Highlights
- Securitized approximately $734.51 million of subprime automotive receivables.
- Issued $716.88 million in asset-backed notes across five classes.
- Weighted average coupon on the notes is approximately 5.90%.
- Initial credit enhancement includes a 1.00% cash deposit and 2.40% overcollateralization.
- Senior class of notes received a triple "A" rating from at least two rating agencies.
- This is the company's largest securitization in its history.
Price Impact
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